The Consortium for Graduate Study in Management is a continually growing and evolving alliance of some of the world's leading Graduate business school's and business organizations, supported by the (continued on schedule o)strength of our extended network of students and alumni. The mission, through the strength of our growing alliance and extended network, is to enhance diversity and inclusion in global business education and leadership by striving to reduce the significant underrepresentation of african americans, hispanic americans, and native americans in both our member schools' enrollments and the ranks of global Management. We believe this mission can be achieved by recruiting for Graduate business education qualified u.s. Citizens and u.s. Permanent residents who demonstrate a commitment to the consortium's mission and who can best assist the Consortium in pursuing this mission.

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
Run by 50 volunteers and 18 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $28K a year · under 1% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$894K
to officers and key staff · 1% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
<1 mo
of spending, in cash
Plus $4.7M in investments, Pt X · Ln 11–13
Fine: 0.2 months of spending in cash, plus $4.7M in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $50K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$2.1M
29% of total assets
Looks good: liabilities are 29% of assets; 50% or less.
Pt X · Ln 26
Independent board members
25
of 26 voting members
Looks good: 25 of 26 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$62.5M
+8% vs prior year
Spent
$63.5M
To programs
98%
Net assets
$5.0M
By yearFY2020–FY2025
Revenue
$62.5M
FY2025▲ +8%
Tap a bar for its year
Revenue by fiscal year
FY2020$46.7M
FY2021$50.3M
FY2022$57.3M
FY2023$59.2M
FY2024$58.0M
FY2025$62.5M
Expenses
$63.5M
FY2025▲ +7%
Tap a bar for its year
Expenses by fiscal year
FY2020$46.5M
FY2021$49.2M
FY2022$56.2M
FY2023$59.2M
FY2024$59.1M
FY2025$63.5M
Net assets
$5.0M
FY2025▼ -19%
Tap a bar for its year
Net assets by fiscal year
FY2020$5.3M
FY2021$6.6M
FY2022$7.4M
FY2023$7.4M
FY2024$6.2M
FY2025$5.0M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1971.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $61.9M Management & general 2% · $1.3M Fundraising 0% · $271K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

30 people listed on the 990; $894K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Executive Director & CEO
$329,015Pt VII · Sec A
VP of Development
$177,197Pt VII · Sec A
VP of Finance & Administration
$163,894Pt VII · Sec A
Chief Operating Officer (thru 8/24)
$124,484Pt VII · Sec A
VP of Programming
$99,546Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 7 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Peter Aranda——$330,381$355,986$332,654$334,624
Peter J Aranda III$329,015$330,128————
Janice Wells-White$124,484$192,698$173,962$172,393$161,649$169,245
Kimberly Alexander$177,197$176,632$177,929$167,166$141,688—
Glenn Wilen$163,894$164,087$162,769$158,547$148,377$152,998
Anthony Davis—————$137,394
Michael Bates$99,546—————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Promotes diversity and inclusion in global business education and leadership.

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Provided by the organization

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1 program · $61.9M · in their own filed words · FY2024
01

Since its inception in 1966, the consortium for graduate study in management's principal objective has been to encourage underrepresented minorities and those who support our mission to pursue masters degrees in business administration at one of our member schools full time mba programs.

$61.9Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 5 funders →
Grants paid · 5 grants · $114.3M · 2023–2024
Unitemized GrantFY2024$58,869,169
Unitemized GrantFY2024$54,500
Unitemized GrantFY2023$55,320,734
Unitemized GrantFY2023$33,000
Unitemized GrantFY2023$19,000

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$62.5M
Ln 12
Fees for servicesLn 2g$60.2M
Gifts and grantsLn 1h$1.7M
Other incomeLn 4–11$325K
Money outPt IX
$63.5M
Ln 25
Programscol B$61.9M
Managementcol C$1.3M
Fundraisingcol D$271K
Owns and owesPt X
$5.0M
net assets · Ln 32
Cash and savingsLn 1–2$867K
Total assetsLn 16$7.1M
LiabilitiesLn 26$2.1M
PeoplePt VI, VII
30
listed · VII A
PaidVII A5
Voting boardVI 1a26
IndependentVI 1b25
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.7M
Fees for servicesLn 2g$60.2M
Investment incomeLn 3$284K
Other incomeLn 4–11$325K
Gains on assetsLn 7$131K
Total revenueLn 12$62.5M
Assets in detailPt X, end of year
SavingsLn 2$867K
Cash and savings togetherLn 1–2$867K
InvestmentsLn 11–13$4.7M
Land, buildings, equipmentLn 10c$1.2M
Total assetsLn 16$7.1M
LiabilitiesLn 26$2.1M
Net assetsLn 32$5.0M
OperationsPt I, VI
EmployeesI 518
VolunteersI 650
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$867K
InvestmentsLn 11–13$5.1M$4.7M
Land, buildings, equipmentLn 10c$1.1M$1.2M
Total assetsLn 16$8.4M$7.1M
LiabilitiesLn 26$2.2M$2.1M
Net assetsLn 32$6.2M$5.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$58.9M$58.9M
Pay of current officers, directors and key staffLn 5$1.0M$459K$432K$140K
Other salaries and wagesLn 7$760K$520K$146K$95K
Pension plan contributionsLn 8$65K$61K$1K$3K
Other employee benefitsLn 9$129K$81K$33K$15K
Payroll taxesLn 10$100K$57K$31K$13K
Accounting feesLn 11c$56K$56K
Other fees for servicesLn 11g$427K$219K$208K
Office expensesLn 13$57K$5K$51K$894
Information technologyLn 14$109K$15K$92K$2K
OccupancyLn 16$40K$40K
TravelLn 17$134K$41K$90K$2K
Conferences, conventions and meetingsLn 19$1.5M$1.5M$8K$143
InterestLn 20$13K$13K
Depreciation, depletion and amortizationLn 22$80K$23K$57K
InsuranceLn 23$12K$12K
Other expenses (24a–d)Ln 24$23K$23K
Total functional expensesLn 25$63.5M$61.9M$1.3M$271K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $62.5M$63.5M−$983K$5.0M 990 PDF
FY2024 $58.0M$59.1M−$1.2M$6.2M 990 PDF
FY2023 $59.2M$59.2M−$81K$7.4M 990 PDF
FY2022 $57.3M$56.2M$1.1M$7.4M 990 PDF
FY2021 $50.3M$49.2M$1.1M$6.6M 990 PDF
FY2020 $46.7M$46.5M$231K$5.3M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $62,508,455 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $462,030$1,693,601
I-9 Program service revenuePrior year $57,140,504$60,206,227
I-10 Investment incomePrior year $330,457$283,655
I-11 Other revenuePrior year $47,299$324,972
I-12 Total revenuePrior year $57,980,290$62,508,455
I-13 Grants and similar amounts paidPrior year $55,372,734$58,923,669
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,352,342$2,085,390
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,420,628$2,482,670
I-18 Total expensesPrior year $59,145,704$63,491,729
I-19 Revenue less expensesPrior year −$1,165,414−$983,274
Part VI · Governance 25 of 26 board members independent, 2 to look at
VI-1a Voting members of the governing body26
VI-1b Independent voting members25
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $62,508,455 across 7 lines filed
VIII-1f All other contributions, gifts and grants$1,693,601
VIII-1h Total contributions, gifts and grants$1,693,601
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $60,206,227$60,206,227
VIII-3 Investment incomeExcluded from tax $152,528$152,528
VIII-7 Net gain or loss on sales of assetsExcluded from tax $131,127$131,127
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $324,972$324,972
VIII-12 Total revenueRelated to mission $60,206,227 · Unrelated business $0 · Excluded from tax $608,627$62,508,455
Part IX · Statement of functional expenses $63,491,729 across 17 lines filed
IX-2 Grants to domestic individualsPrograms $58,923,669$58,923,669
IX-5 Pay of current officers, directors and key staffPrograms $458,992 · Management $432,310 · Fundraising $139,656$1,030,958
IX-7 Other salaries and wagesPrograms $519,916 · Management $145,609 · Fundraising $94,763$760,288
IX-8 Pension plan contributionsPrograms $60,701 · Management $1,047 · Fundraising $3,284$65,032
IX-9 Other employee benefitsPrograms $80,775 · Management $33,434 · Fundraising $14,601$128,810
IX-10 Payroll taxesPrograms $56,611 · Management $30,943 · Fundraising $12,748$100,302
IX-11c Accounting feesManagement $55,656$55,656
IX-11g Other fees for servicesPrograms $219,296 · Management $207,770$427,066
IX-13 Office expensesPrograms $4,886 · Management $50,839 · Fundraising $894$56,619
IX-14 Information technologyPrograms $15,118 · Management $92,146 · Fundraising $2,030$109,294
IX-16 OccupancyManagement $39,842$39,842
IX-17 TravelPrograms $40,793 · Management $90,434 · Fundraising $2,500$133,727
IX-19 Conferences, conventions and meetingsPrograms $1,524,625 · Management $7,526 · Fundraising $143$1,532,294
IX-20 InterestManagement $13,079$13,079
IX-22 Depreciation, depletion and amortizationPrograms $22,760 · Management $57,363$80,123
IX-23 InsuranceManagement $11,970$11,970
IX-24 Other expenses (24a–d)Management $23,000$23,000
IX-25 Total functional expensesPrograms $61,928,142 · Management $1,292,968 · Fundraising $270,619$63,491,729
Part X · Balance sheet $7,137,399 assets, 12 lines filed
X-2 Savings and temporary cash investments$866,513
X-4 Accounts receivableStart of year $169,000$184,361
X-9 Prepaid expenses and deferred chargesStart of year $194,372$164,895
X-10c Land, buildings and equipment, netStart of year $1,113,827$1,228,715
X-11 Publicly traded securitiesStart of year $5,052,012$4,692,915
X-16 Total assetsStart of year $8,430,747$7,137,399
X-17 Accounts payable and accrued expensesStart of year $1,639,078$1,734,095
X-26 Total liabilitiesStart of year $2,239,097$2,095,586
X-27 Net assets without donor restrictionsStart of year $4,514,795$2,676,400
X-28 Net assets with donor restrictionsStart of year $1,676,855$2,365,413
X-32 Total net assets or fund balancesStart of year $6,191,650$5,041,813
X-33 Total liabilities and net assetsStart of year $8,430,747$7,137,399
Part XI · Reconciliation of net assets $5,041,813 net assets at year end
XI-1 Total revenue$62,508,455
XI-2 Total expenses$63,491,729
XI-3 Revenue less expenses−$983,274
XI-4 Net assets at start of year$6,191,650
XI-8 Prior period adjustments−$166,563
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$5,041,813

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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